The square was formed in the 16th century, on the steep terrace of the right bank of Nevėžis River, and was the main marketplace of Kėdainiai. There are 17th century buildings near the square: houses of glaziers, the house of Burgomaster George Anderson and the Evangelical Reformed Church.
In 1625, the owner of the town, reformer Kristupas Radvila established a school in the current Town Hall building. In 1647, it became a gymnasium called Šviesioji (Gymnasium Illustre), and was established in the ornate Renaissance-style two-storey building in Didžiosios Pilies street.
The orthodox parish was established in Kėdainiai in 1645, when Jonušas Radvila married his second wife Maria Lupu.